Our Board of Directors concluded that the costs of maintaining the Nasdaq listing and remaining a public reporting company, including costs of compliance, the demands on management time and the Company resources required to maintain its listed and registered status, outweigh the benefits to the Company and its stockholders of continued Nasdaq listing and SEC reporting.
The Company will file a Form 25 with the Securities and Exchange Commission on or about November 24, 2025, and the Nasdaq delisting is expected to become effective on or about December 4, 2025, at which time trading on Nasdaq will cease. The common stock may thereafter be eligible for quotation on the Pink tier of OTC Markets Group if market makers commit to making a market in the Company's shares. The Company can provide no assurance that trading in its common stock will continue on the OTC Markets Group or otherwise. After the Nasdaq delisting becomes effective, the Company will file a Form 15 with the Securities and Exchange Commission on or about December 8, 2025, at which time the Company anticipates that its obligation to file periodic reports under the Exchange Act, including annual, quarterly and current reports on Form 10-K, Form 10-Q and Form 8-K, respectively, will be suspended, and that all requirements associated with being an Exchange Act-registered company, including the requirement to file current and periodic reports, will terminate permanently 90 days thereafter.
Departure of Chief Financial Officer
On November 10, 2025, David Vanderhorst resigned as Chief Financial Officer and Secretary of the Company, effective immediately. Mr. Vanderhorst will remain an employee of the Company, serving as the Company's Controller. The Company's President and Chief Executive Officer, Stewart Wang, has assumed the duties of principal financial officer and principal accounting officer of the Company.
Third Quarter 2025 Results
On November 14, 2025 the Company announced its Third Quarter 2025 results.
TAITRON COMPONENTS INCORPORATEDCondensed Consolidated Statements of Operations and Comprehensive Income (Loss)(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
Net product revenue
$
529,000
$
1,187,000
$
2,778,000
$
3,374,000
Cost of products sold
202,000
635,000
1,109,000
1,664,000
Gross profit
327,000
552,000
1,669,000
1,710,000
Selling, general and administrative expenses
516,000
530,000
1,651,000
1,683,000
Restructuring and severance expenses
-
-
1,680,000
-
Operating income (loss)
(189,000
)
22,000
(1,662,000
)
27,000
Interest income, net
54,000
68,000
158,000
223,000
Other income (expense), net
77,000
163,000
841,000
976,000
Income (loss) before income taxes
(58,000
